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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest and dividend income:        
Loans $ 57,736 $ 49,731 $ 111,372 $ 99,777
Taxable investment securities 1,592 1,507 3,262 3,101
Non-taxable investment securities 1,655 1,400 3,261 2,790
Mortgage-backed securities 3,495 2,982 6,999 6,047
Federal funds sold and other 831 405 1,431 912
Total interest and dividend income 65,309 56,025 126,325 112,627
Interest expense:        
Deposits 4,949 4,075 9,480 8,257
Federal Home Loan Bank borrowings 2,489 2,139 4,600 4,092
Junior subordinated debentures 716 584 1,387 1,162
Repurchase agreements and other short-term borrowings 10 58 71 68
Total interest expense 8,164 6,856 15,538 13,579
Net interest income 57,145 49,169 110,787 99,048
Provision/ (credit) for loan losses (6,114) (2,535) (6,295) (5,668)
Net interest income after provision/ (credit) for loan losses 63,259 51,704 117,082 104,716
Fees and other income:        
Investment management fees 11,081 10,627 21,920 21,285
Wealth advisory fees 12,961 12,551 25,784 25,263
Wealth management and trust fees 11,161 11,208 21,987 22,124
Other banking fee income 1,964 2,982 3,658 6,215
Gain on sale of loans, net 59 197 197 406
Gain/ (loss) on sale of investments, net 237 245 256 246
Gain/ (loss) on OREO, net 0 0 (46) 280
Other 555 (1,015) 768 (1,002)
Total fees and other income 38,018 36,795 74,524 74,817
Operating expense:        
Salaries and employee benefits 43,493 40,614 89,318 83,174
Occupancy and equipment 10,779 9,928 21,428 19,515
Professional services 3,106 3,015 6,420 6,530
Marketing and business development 1,971 1,811 3,631 3,981
Contract services and data processing 1,641 1,737 3,221 3,416
Amortization of intangibles 1,426 1,586 2,852 3,172
FDIC insurance 879 1,015 1,645 2,035
Restructuring 0 905 0 2,017
Other 4,526 4,120 8,086 7,600
Total operating expense 67,821 64,731 136,601 131,440
Income before income taxes 33,456 23,768 55,005 48,093
Income tax expense 9,963 7,626 16,516 15,064
Net income from continuing operations 23,493 16,142 38,489 33,029
Net income from discontinued operations 1,063 1,245 2,695 3,310
Net income before attrubution to noncontrolling interests 24,556 17,387 41,184 36,339
Less: Net income attributable to noncontrolling interests (1,150) (989) (2,116) (1,900)
Net income attributable to the Company 23,406 16,398 39,068 34,439
Adjustments to net income attributable to the Company to arrive at net income attributable to common shareholders (577) (970) (1,743) (1,259)
Net income attributable to common shareholders for earnings per share calculation $ 22,829 $ 15,428 $ 37,325 $ 33,180
Basic earnings per share attributable to common shareholders:        
From continuing operations: $ 0.27 $ 0.17 $ 0.42 $ 0.37
From discontinued operations: 0.01 0.02 0.03 0.04
Total attributable to common shareholders: 0.28 0.19 0.45 0.41
Diluted earnings per share attributable to common shareholders:        
From continuing operations: 0.26 0.17 0.41 0.36
From discontinued operations: 0.01 0.01 0.03 0.04
Total attributable to common shareholders: $ 0.27 $ 0.18 $ 0.44 $ 0.40
Common Stock [Member]        
Basic earnings per share attributable to common shareholders:        
Weighted average basic common shares outstanding 82,298,493 81,236,809 82,125,795 81,269,154
Diluted earnings per share attributable to common shareholders:        
Weighted average diluted common shares outstanding [1] 84,741,680 83,519,939 84,658,309 83,391,057
[1] The diluted EPS computations for the three and six months ended June 30, 2017 and 2016 do not assume the conversion, exercise, or contingent issuance of the following shares for the following periods because the result would have been anti-dilutive for the periods indicated. As a result of the anti-dilution, the potential common shares excluded from the diluted EPS computation are as follows: Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016Shares excluded due to exercise price exceeding the average market price of common shares during the period (total outstanding):(In thousands)Potential common shares from: Stock options54 315 87 243Total shares excluded due to exercise price exceeding the average market price of common shares during the period54 315 87 243